Press "Enter" to skip to content

Price Analysis of ATOM: The markets pace up with the bulls

Cryptocurrency

ATOM- Cosmos’ proprietary token ranks 20 according to the stats of Coinmarketcap. The price of ATOM at the time of press was $3.730 and the market cap was at $712 million. A huge chunk of ATOM was traded from HOTBIT- one of the professional trading platform based in Shanghai and Taipei. It contributed to a total of $32 million via ATOM / USDT pair.

2 Hour Chart

Source: ATOM / USD TradingView

The short term chart exhibited an uptrend extending from $ to $ and a downtrend extending from $ to $. The resistance was at $ and the support was held at $.

The Bollinger Bands were undergoing a slight squeeze reducing the volatility of the coins.

Chaikin Money Flow: The CMF line was was zero line suggesting that the inflow was more than the outflow of the capital placing the coin in the bullish market.

The MACD line was under the signal line indicating that the coin was under a bearish trend at the time of writing.

1 Day Chart

Source: ATOM / USD TradingView

The Daily chart showed a downtrend extending from $6.7966 to $3.2975 and an uptrend extending from $2.0578 to $2.5677. The immediate resistance was at $2.9985 and the subsequent resistance was at $3.8777 while the support was held at $2.0402.

Parabolic SAR: The dotted line below the candlesticks was going up indicating that the coin was under a bearish market.

The Awesome Oscillator showed that the green bars were gaining momentum to place the coin in the bullish market.

Relative Strength Index: The line had breached over the over-bought section indicating that the buyers are active in pushing the coin to the bullish market.

Conclusion

The Awesome Oscillator and RSI in the long term chart and the CMF in the short term chart indicated that the coin was under a bullish influence.

 

 

 

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.